TLDR
- Aave launched an Equities Hub on Base letting seven Coinbase tokenized stocks be used as collateral for USDC loans.
- AAVE traded near $146-$147, up about 13% over 7 days and 25% over 30 days.
- Tokens covered include Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla stock.
- Initial borrowing cap is set at $21 million, with a $29 million combined collateral cap.
- The market is restricted to eligible users outside the United States.
Aave has launched a new lending market on Base that lets users borrow USDC against seven Coinbase tokenized stocks. The move pushed AAVE’s price up over 7%, with the token trading near $146 to $147 as of the latest session.
The new market is called the Equities Hub. It runs on Aave V4 and accepts tokens tied to Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla shares.
Users can deposit these tokens as collateral and borrow USDC. They keep their exposure to the underlying stock while gaining access to dollar liquidity.
Coinbase Tokenized Stocks are live on Aave V4 on @base.
Tokenized stocks are only available in eligible jurisdictions outside of the U.S. pic.twitter.com/VOL363Ihd9
— Aave (@aave) September 25, 2026
Coinbase Onchain SPV Ltd. issues the tokens. Alpaca Securities holds the real shares in segregated custody accounts, giving holders a claim tied to actual equities rather than just a price tracker.
How the Lending Market Works
USDC is the only asset that can be borrowed in this market. Stock tokens cannot be borrowed, and one stock token cannot be used to borrow another.
LATEST: ⚡️ Aave added seven Coinbase tokenized US stocks, including AAPL, TSLA, and NVDA, as collateral on its V4 market on Base, letting eligible non-US users borrow USDC against them. pic.twitter.com/Bwyr0ln2py
— CoinMarketCap (@CoinMarketCap) September 25, 2026
Each stock has its own borrowing limit. Microsoft has the highest at 79%, while Meta and Tesla sit at the lower end at 65%. Apple, Alphabet, Amazon, and Nvidia fall between those numbers.
Aave set a $32 million cap on USDC that can be supplied to the market and a $21 million cap on USDC that can be borrowed. Risk provider LlamaRisk placed the combined stock collateral cap near $29 million.
Chainlink supplies the price feeds for these tokenized stocks. The feeds update on a 24/5 schedule, matching regular stock market hours, and hold their last price during weekends and holidays.
This means the lending market itself runs non-stop. Users can supply, borrow, repay, and withdraw at any time, but collateral prices only refresh when the underlying stock market is open.
Availability and Wider Rollout
These tokenized stock products are not available to U.S. investors. Coinbase issues them through an Abu Dhabi-based entity, and they are offered only to eligible users outside the United States.
Base Head of Growth Antonio García-Martínez said eligible non-U.S. customers can use the tokens to borrow USDC, while other users can supply USDC to earn interest.
Aave Labs CEO Stani Kulechov commented on the shift in what these tokens can do. “Until now a tokenized stock was something you could hold or trade. Today it becomes something you can borrow against,” he said.
The Base deployment still requires governance approval. Aave’s proposal process calls for an offchain Snapshot vote followed by an onchain vote before the market becomes fully active.
Coinbase’s tokenized stock lineup arrived on Base earlier this year. It launched with four tokens in August and expanded to ten tokens by September, all tied to major U.S. technology companies.
Aave is also working on a separate tokenized-asset market on Avalanche, announced Sep. 16, where institutions would borrow Tether’s USA₮ against tokenized real-world assets.
On the daily chart, AAVE reached $150.14 during the session before settling near $147.41. The token trades above its Supertrend line at $117.29, with resistance marked at $155.43 and support at $134.56.
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